Bitcoin’s [BTC] significant bullish rise over the past week has left a long-lasting effect on the cryptocurrency market, with several proponents claiming that it was Bitcoin’s return. In a recent interview, Travis, the Founder and Chief Investment Officer [CIO] of Ikigai Asset Management, spoke about the price hike and the entry of institutional investors in crypto.
Kling was asked about getting out of the ‘crypto pain’ and its passing, to which he replied that the likelihood has diminished over the past few weeks. He even claimed that it is safe to say that it is the final nail in the coffin in terms of Bitcoin’s bottom. Kling added:
“We should have the never say never attitude in the cryptocurrency space. It would require a massive shift in appetite for risk investments. This is also shown by the renewed interest in the field over the past 2 months compared to Q4 2018 and January 2019.”
The Ikigai CIO was also of the opinion that the new motto was to find out how to put your money to work in the crypto-verse. The discussion further touched on the ascension of the altcoins, a phenomenon that caused a majority of the coins to go up on the price charts. Travis Kling stated that as of now, Bitcoin was still the most compelling long position and that users shouldn’t’ go running around ‘dumpster diving’ in tiny cryptocurrencies. In his words:
“On a risk-adjusted basis, I would say that Bitcoin and even EOS makes sense. I won’t take Litecoin’s increase as an indication of the spike.”
Travis Kling and Ikigai were also in the news recently when Anthony Pompliano’s Morgan Creek Digital made a strategic investment in the company. Post the reveal, Kling stated:
“DLT and crypto assets are fundamentally changing our world. We are honored to receive this investment from Morgan Creek Digital and look forward to working closely together with Mark, Jason, and Pomp in this exciting arena.”
Subscribe to AMBCrypto’s Newsletter